In the spotlight: Angola

By: Published on: Wednesday, November 23, 2016

Angola, which has recently emerged from civil war, is in the process of building its own identity. A systematic drive towards diversification of the economy away from the oil sector and the process of de-dollarization are pivotal parts of this process. How are banks, the government and locals coping as this transformation takes hold?

Angola's de-dollarization drive
The country’s radical programme has put
pressure on the banking sector, which in its short
existence has relied heavily on the business brought in
by foreign exchange. How can banks stay afloat with a
lack of dollars in the system?

Is Angola ready for PPPs?
The international community has lauded Angola for
its quick-thinking and tough decision-making following
the sharp fall in the oil price. In February, Angola cut
AKz1.8 trillion ($14.3 billion) from its AKz7.2 trillion
budget – months before Nigeria, the
region’s largest economy and oil producer,
made any changes to its own economic outlook.

Angola goes after diversification
The fall in the oil price and the de-dollarization
of the economy has done even more to highlight
Angola’s over-dependence on oil. As a
result, the diversification of the economy is higher-up
on the government’s agenda than ever
before.

More coverage

Angola to test African Eurobond appetite
Angola could become the first African sovereign
bond borrower since the great oil price crash this year
in a debut deal that will set the tone for
frontier-market debt.

Angola sets sights on capital-markets reform
The development of Angola's capital markets has
been long promised but recent indications from the
country's capital-markets commission suggests secondary
public-debt trading could begin as early as next month.
Nevertheless, it's unclear when the stock exchange will
open its doors.

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